Monetise your Innovation in Nigeria’s Technology Space With NSIA

There are many challenges that come with breaking into the technology field as an innovator. First, you have to sell your ideas, and then prove it successfully to carve out a special place for yourself in his competitive business.

The right platform, however, will allow you to bring those ideas to life, channel your creativity and maximize your success in the tech industry.

That is why the Nigerian Sovereign Investment Authority (NSIA) will on December 10 launch the latest edition of the Award for Innovation (NPI) Programme, to encourage and support creativity and innovation in the technology sector.

The NPI program which will be launched at an event in Lagos is structured as a business booster program to support early-stage, growth-driven ideas through education, management and finance.

The Governor of Lagos State, Babajide Sanwo-Olu will attend the event as special guest of honor along with renowned and renowned digital ecosystem experts as guests and panelists.

They include Co-Founder and COO, Piggy Vest, Odunayo Eweniyi; Co-Founder, Helium Health, Ralph Oluwole; Head, Investment and Technology Promotion Office, (UNIDO) Abimbola Wycliffe, MD/CEO, Outsource Global, Amal Hassan and Founding Partner, Ventures Platform, Kola Aina.

Other guests include MD/CEO, Appzone Group, Obi Emetarom; MD/CEO, Drugstoc, Chibuzo Opara, Executive Director,, Serah Makka-Ugbabge; Co-Founder/Partner – Orbit54, Abayomi Awobokun and Co-Founder/Partner, New Lion Capital/Magic Fund, Temi Awogboro, and many more.

The Authority’s Board and Management share their strategy for the technology sector in Nigeria and also provide context to the vision behind the NSIA Award for Innovation.

Keynote speakers from the NSIA team will include NSIA Non-Executive Director, Ikemefuna Isiekwena, NSIA Managing Director/Chief Executive Officer, Aminu Umar-Sadiq; NSIA Executive Director and Chief Investment Officer, Kola Owodunni and NSIA Executive Director, Operations and Corporate Service, Olubisi Makoju.

The NSIA Innovation Awards Program is a strategic initiative, designed to run for at least three years to fund new ideas; promoting a cost-effective, scalable and transformative positive impact on the country’s economic growth.

The program identifies, builds, channels the country’s latent potential in innovation and technology, increases the country’s productive capacity, creates jobs and improves resource sustainability.

The NPI’s priority sectors are technology enabled industries in the top seven priority sectors of the Nigerian economy which are: Financial Services, Agriculture, Health, Education, Manufacturing, Renewable Materials and Energy. The priority sectors were selected with the potential positive impact of innovations in these sectors on the Nigerian economy.

Through this Programme, the NSIA Board intends to promote the growth and development of the Nigerian technology ecosystem by identifying Nigerian innovators, enhancing their capabilities, and providing a platform to develop these technological solutions. presented and scaled globally over multiple cycles of the program.

The strategic intent of the Program will also help the Authority establish direct access to the Nigerian technology sector, through the creation of a strong pipeline for future investments with its Innovation Fund.

In fact, the Program will provide a platform to understand business processes and gain personal experience of rising stars within the technology ecosystem.

Therefore, the Program will accept a three-stage competition, where ten finalists will appear and receive several prizes.

The NPI is expected to run for sixteen (16) weeks covering the three phases namely the pre-selection phase, the acceleration phase, and the demo day phase.

It starts with applications from eligible candidates who meet the entry criteria.

In total, 25 innovators (one product/service each) will be shortlisted and proceed to the competition. These innovators scale through a bootcamp called the acceleration phase.

Of the 25, the top 10 innovators will be selected by a 5-person expert evaluation committee to participate in a pitch session on a demo day from which a winner will emerge.

The equity portion of the award will be awarded and reviewed by one or more of the Authority’s venture capital partners over the specified period.

The payment period will be limited to a maximum of six months after the competition.